The popular ingredient has been plagued for years by questions surrounding its sustainability, prompting pledges from big CPGs to source it in a more environmentally friendly way.
The purchase price was not disclosed for the North Dakota business, which provides more than 40 flour products from pulses, ancient grains and starches.
The proceeds from the round, tied for the largest single fundraising in the alternative protein space this year, will go toward science, innovation, product development and helping other startups scale.
These numbers, presented last week at Natural Products Expo East, show consumer concerns for health and sustainability spurred by the pandemic are continuing.
The beer giant will use its own network to expand the functional drink's availability as consumers latch onto products that do more than provide sustenance or refreshment.
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